Lehman in Deal to Sell Park Avenue Property for $800 Million

By

Eliot Brown

Feb. 12, 2013 11:22 a.m. ET

Lehman Brothers Holdings Inc. has agreed to sell the Manhattan office tower at 237 Park Ave. to a venture of RXR Realty LLC and Walton Street Capital in what would be one of the largest sales in Manhattan in the past year.

The price is more than $800 million, according to multiple real-estate executives with knowledge of the sale, including about $420 million in debt that would be assumed by the new owners.